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"It's Woodchips Stupid," Not Corn, for Ethanol Production to Produce 15 Billion Gallons, Says Green Energy Resources

Posted on: Thursday, 10 April 2008, 12:00 CDT

Green Energy Resources (PINKSHEETS: GRGR) is ready to meet the demand and supply of the US Government-mandated 15 billion gallons of wood cellulostic ethanol authorized under the US Energy Bill passed in 2007. Green Energy Resources is offering supply contracts to any American company anywhere in the United States requiring woodchips. Green Energy's announcement comes at a time when oil is at near $112 per barrel prices Green Energy is the first and only US company to export woodchips for energy to Europe beginning in 2003.Green Energy Resources has a highly developed national inventory system through its UTCS software with nearly 5 million tons. The software identifies network locations, chain of custody receivership, procurement sources, origins, and provides environmental certification of sustainability. No other wood biomass supplier in the US has this technology. Green Energy Resources has a well established logistical support system utilizing trucks and rails to deliver large volumes for long term contracts to producers. The company can deliver cost effectively from anywhere in the United States and can work with producers on carbon credits and other trading mechanisms to utilize maximum profitability. Green Energy Resources is an environmentally sensitive company procuring woodchips from urban/suburban wood waste streams, including landfills, tree services, excavators, storm damage and tree farms.

Corn Ethanol

A myriad of recent interviews on CNBC and this past week's Time Magazine has highlighted the many negative aspects of corn ethanol. Negatives include production pricing of nearly $3.90 per gallon, and a doubling of corn and other feed stock commodities. Wood ethanol production is estimated at $1.55 per gallon according to several industry sources.

Company news

Green Energy Resources is currently proceeding with trial orders to Europe and China in front of contracted larger volumes. The tests are generally container size shipments.

Larger shipments are expected to get underway later in the 2nd quarter. In the first qtr Green Energy exported wood pellets to Europe. The announced public relations campaign is underway and should begin to show results particularly in regard to share values over the next 90-120 days.

Dividend

The company has canceled its originally proposed quarterly dividends for one annual dividend to be scheduled later this year. The dividend will be a stock dividend of either 5 or 10%.

Nevada Incorporation

Is underway and should be completed within the next one to two months. Henderson, Nevada will be the official site of Green Energy Resources' corporate headquarters.

15c211

Green Energy Resources has filed a new 15c211 to move from "Unsolicited to "Solicited" status with the NASD.

European Investors

Talks have been initiated by two European companies interested in acquiring a stake in Green Energy Resources. The companies are well established and listed on various European Exchanges. The talks include capitalization as well as the outright purchase of "GRGR."

The Float

Green Energy Resources has reduced the Issued and Outstanding shares from 60 million to 51 million shares. The float remains at approximately 22 million shares.

Green Energy Resources has no debt, has not raised any public money and operates on its own self-generated revenues. First Qtr results will be released as soon as they are available.

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the companies' actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.

 CONTACT: Green Energy Resources Joseph Murray 631-375-7921 joe.murray@greenenergyresources.comwww.greenenergyresources.com  or  Worldwide Financial Marketing, Inc. USA Investor Relations Int'l: 1-954-360-9998 Nat'l: 1-866-360-9998 Info@wwfinancial.com

SOURCE: Green Energy Resources

Source: MARKET WIRE

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